Equipment and Machinery Financing
Equipment and Machinery Financing

Fund your capital expenditure with the help of external financing from banks or financial institutions.


These assets can be new or used.


Equipment and machinery that are related to green initiatives, help the environment through reducing waste, greenhouse gas emissions, are eligible for green loan. They enjoy lower interest rates.


How it works:


  1. Buyer to obtain and submit quotations for equipment and machinery
  2. Upon approval, lender will pay directly to supplier
  3. Every month, you pay your loan installment via GIRO or fund transfer


Example:


Based on a loan of $100,000, your monthly commitment can be as low as $1,841, payable over 5 years. Click here to see a detailed loan schedule.

Key Benefits

Purchase of new machinery: 90%

Purchase of used machinery: 80%

Repayment period: Up to 15 years

Wide range of equipment across various industries are eligible for machinery hire purchase:

  • Engineering, manufacturing and construction (forklifts, excavators, food processors, robotic and precision engineering machinery)
  • Medical, Biotech and Scientific (dental, ultrasound, X-ray, aesthetic machines, lab equipment
  • Logistics (material handling equipment and heavy goods vehicles)

    • Equipment and machinery that are related to green initiatives, help the environment through reducing waste, greenhouse gas emissions, are eligible for green loan.

    They enjoy lower interest rates.

  • Electric forklifts
  • Electric trucks and buses
  • Waste compactors, granulators and sorting machines for recycling industries

    • Risk share is at 70%.

    Details

    Who can apply:

  • Local company, registered and physically present in Singapore
  • At least 30% Singapore or PR shareholding
  • Annual revenue of the company not more than S$100 million or not more than 200 employees


    • Documents required to apply:

  • Latest 6 months bank statement
  • Latest 2 years Audited / Unaudited financials or latest management accounts
  • Quotation and specsheet of equipment and machinery
  • Copy of NRIC for all directors and guarantors
  • Copy of last 2 years Notice of Assessment for all directors and guarantors


    • How long does it take to approve?

  • It can be approved as fast as 1 week.
  • However, please don't apply at the very last moment. It will be wise to allow 1 month for the loan application process.
  • Apply early. Do not wait for your financial situation to deteriorate as loan eligibility depends on the financial health of the company.
    • Enquire Our Service

    Feel free to leave us a message and we will get back to you for a chat at no cost and obligation to you.

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